The recently listed broking firm reported a jump of 210 per cent in net profit to Rs 117.85 crore, as against a net profit of Rs 38.18 crore in the same quarter previous year. It clocked a profit of Rs 99.71 crore in March 2021 quarter.
Shares of Angel Broking surged over 12 per cent to Rs 1,192.35 on Friday. However, it was trading at Rs 1,139.15 at 9.55 am. BSE Sensex was trading 95.59 points, or 0.18 per cent, higher at 53,254.44 at the same time. The scrip settled at Rs 1,062.05 on Thursday.
The company reported an operational revenue of Rs 458.72 crore during the April-June 2021 period, 94.3 per cent higher than Rs 236.09 crore revenue in the year-ago quarter, the company said in a regulatory filing.
The board of the company had declared an interim dividend of Rs 5.15 per share with a record date of July 26, 2021.
Shares of Angel Broking were listed in October 2020. The company had issued shares at Rs 306 in its initial offering. The scrip has almost turned four times from the issue price.
The broking counter has gained over 240 per cent in the year 2021 so far. The scrip has shot up by 40 per cent in the last one month.
The company’s board has consented to submit an application to market watchdog Sebi to obtain approval for acting as a sponsor to mutual fund and to constitute a committee. This committee will oversee the activities in relation to the proposal of setting up of mutual fund business by the company.
The board, in its meeting held on July 15, has approved the change of name of the company from ‘Angel Broking Limited’ to ‘Angel One Limited’ or ‘Angel One Fintech Limited’ or any other name as may be approved by the Central Registration Center (“CRC’) of Ministry of Corporate Affairs.
